Seattle Times Announces Debut of Informational Film About NEXUS

Members of the development team are sharing their insights about NEXUS, a condominium tower planned in downtown Seattle, in a series of informational interviews that can be viewed at the project’s website.

“We simply wanted to bring a level of transparency to the development in the words of those who know it best,” Jones says. “It’s evident that NEXUS is more than just a condominium tower — it’s a pivotal project in a housing market that is yearning for something that’s as unique as it is attainable.”Marketing materials are being developed and a sales center is expected to open in the fall. In the meantime, homes are available for sales reservations beginning on June 4th. Presales will begin with the opening of the sales center and first occupancy is planned for mid-2019, Jones says.

One of the informational videos includes a conversation with Greg Lynn of Sotheby’s International Realtyin San Francisco, one of the top-producing condominium brokers in California. He discusses the future of downtown Seattle’s housing market and explains why he believes the Bay Area is a harbinger of what’s to come for the Pacific Northwest.

Above: Greg Lynn (left), a top-producing condominium broker in California with Sotheby's International Realty based in San Francisco, discusses the rapidly developing housing market of Seattle with Dean Jones, President & CEO of Realogics Sotheby's International Realty (a video of this interview will be posted soon).

“I can’t see how Seattle won’t follow in the same footsteps of San Francisco and likewise become densely populated, in high demand and, of course, more and more expensive,” Lynn says. “Our markets are fundamentally the same in terms of jobs, incomes, geography and lifestyle preferences. However, Seattle’s current affordability is much greater. That’s going to pull my clients up to the Pacific Northwest. They want to take part of this predicted value growth and do so in a state without the high cost of living and income tax of California.”

Lynn recalls the San Francisco of 15 years ago and describes an environment much like Seattle today. He says the area known as SOMA, or South of Market, is similar to South Lake Union — a hub of high-tech jobs and a burgeoning residential enclave within walking distance of the city’s most-popular attractions and employers.

“It wasn’t that long ago when newer condominiums crested past $1,000 per square foot in San Francisco, and now both resale and new developments can fetch $2,500 or even $3,000 per square foot,” Lynn says. “I think NEXUS is a well-timed project providing renters an opportunity to own. Unfortunately for many, San Francisco has become out of reach. It’s an exciting time for Seattle, and consumers are going to be surprised at how quickly the market will evolve.”

In an effort to illustrate this future, the Burrard Group commissioned a virtual tour called Cityscape 2020that depicts an emerging vertical village that is taking shape around NEXUS. The northeast corner of downtown Seattle, which many have begun to refer to as the “East Village,” will soon be home to more than 10,000 new residential units; two million square feet of office space; a plethora of new retailers, including an urban grocer; and nearly 2,000 new hotel rooms, prompted in part by the expansion of the nearby Washington State Convention Center.

Above: An artist's rendering shows NEXUS (the silver tower in the lower left) at its future location at 1200 Howell St. The white buildings represent other projects planned throughout downtown.

“Our team has worked hard to position NEXUS ahead of the curve,” Chan says. “Those who participate in our reservation and presale program will definitely feel the benefit of being in on the ground floor of this opportunity.”

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